The increasing industrial expansion in the emerging regions along with demand for multifunctional additives is expected to provide opportunities for the coating additives market growth
The global coating additives market surpassed USD 6.40 billion in 2019 and is expected to rise at a CAGR of 6.2% by the end of 2028. Increased demand for additives such as acrylic resin which can drive the market for coating additives is contributing factors to the global market for coating additives. In terms of their chemical composures and functions, coating additives can differ greatly from each other. For the different additive groups, the common factors are, by their very nature, that they are used in small amount
The characteristics of key components of the coating material, including binder, pigment and solvent, are further altered by the chemical ingredients used. However, solvent based additives have features that are preferred over others owing to their excellent binding properties in the formulation or sheet. The overall market size of the painting additive over the forecast period is expected to increase significantly because of the promising solvent characteristics that could boost the product population. Manufacturers concentrate on the production of environment-friendly and water-based additives.
The study on coating additives market describes the different features of the global industry which is evaluated using value chain analysis model. Further, in terms of market constraints, key industry factors and opportunities, a number of quality components in the coating additives industry are included in the market study. The report also offers a detailed evaluation of the market competition by profiling the key players and regional, local, and global vendors.
The coating additives market depicts solid competition among the already well-known and new market players. Also, the coating additives industry players are pursuing potential markets to seize a competitive lead among the other industry players by forming mergers & acquisitions, agreements, acquiring other companies & new startups, establishing collaboration & partnerships, and growing their business existence.
Growth in the market size of architectural coatings is likely to surpass USD 12.8 billion by 2028, resulting in an increase in demand for coating additives such as acrylic, which could contribute to a rise in the market for coating additives. In increasing renovation ventures, which provide mold resistance, accelerating the market development, would contribute greatly to the increased market demand for commodities.
A major increase in market size of the surface additives over the forecasted time frame in Asia Pacific, led by Japan, India and China is expected in the coming years. Over the years, demand in the construction industry has steadily increased and will continue to grow steadily up to 2025. Quick urbanization has stimulated the growth of the construction industry, which is willing, as it provides external durability, gloss protection, chemical resistances, and discoloration at high temperatures, to contribute to the demand for paints and additives.
In the forecasted timeframe, increasing demand from North America's market size of the coating additives operated by the United States, Canada and Mexico is expected. The demand for acrylic-based coating additives is increased due to its functional aspects such as thickening, smoothing, and levelling of surface defects. Moreover, significant consumption in automotive OEM and repair, construction, furniture, and certain industrial applications will fuel growth within the regional markets by 2028.
Segment Overview of Global Coating Additives Market
Key Segments of the Global Coating Additives Market
Formulation Overview, 2018-2028 (USD Billion) (Kilo Tons)
- Water Based Systems
- Solvent Based Systems
- Powder Based Systems
- Radiation Cured Systems
Type Overview, 2018-2028 (USD Billion) (Kilo Tons)
- Dispersing Agents
- Rheology Modifiers
- Slip/slid Resistant Agents
- Surface Modifiers
- Wetting Agents
Application Overview, 2018-2028 (USD Billion) (Kilo Tons)
- Paper and Pulp
Regional Overview, 2018-2028 (USD Billion) (Kilo Tons)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America